Integrated Agrees to Acquire 51% of Altigefi, a Paris based Fund of Hedge Funds Manager with Approximately $1 Billion in Assets Under Management
October 15, 2007

London, October 15, 2007 - Integrated Enters into Agreement with Financière Atlas, Altigefi’s Remaining 49% Shareholder and Primary Distributor, to Strongly Expand Altigefi’s Presence in the French and European Markets

Integrated Asset Management plc ("Integrated") (London AIM: IAM) announced today that it has agreed to acquire 51% of the issued share capital of Altigefi S.A. ("Altigefi"), the Paris based fund of hedge funds manager. Integrated acquired 9% on 7 August 2007 from an individual shareholder and on 12 October 2007 acquired a further 40% from its management and founding shareholders. In addition, the Company entered into an agreement on 12 October 2007 with the remaining shareholder, Financière Atlas S.A. ("Financière Atlas"), to acquire a further 2% of the issued share capital of Altigefi, subject to the regulatory approval of the French Financial Markets Authority (Autorité des Marchés Financiers).

Financière Atlas, a French subsidiary of Luxembourg based Sal. Oppenheim Jr & Cie S.C.A, Europe’s leading independent private bank and largest shareholder of Integrated, has also historically been Altigefi’s main distributor in France.

The initial consideration for the acquisition of the 49% was €7.7 million (£5.3 million), and was paid primarily in cash (92%) with the remainder in restricted shares (8%) (378,655 shares). In addition, further deferred payments up to a maximum of €750,000 (£517,000) are payable in cash dependent on the growth in assets under management for a period after closing. The consideration for the acquisition of the 2% from Financière Atlas will be €320,000 (£220,000), making a total initial consideration of €8.0 million (£5.5 million) for the 51%.

As part of the transaction, Pierre Edouard Coiffard and Bruno Lescoat, Altigefi’s co- founders, will join as senior members of Integrated’s investment team in London and Paris.

The balance of 49% of the issued share capital of Altigefi not being acquired by Integrated will continue to be held by Financière Atlas for the time being. As part of the multi-year agreement, which has been renewed as part of this transaction, Integrated and Financière Atlas will closely cooperate in France in strongly developing the French market for institutional alternative products

Based on the audited accounts Altigefi had turnover for the year ended 31 December 2006 of €5.6 million (£3.8 million) (2005: €4.5 million (£3.1 million)) and had net profit before tax of €1.5 million (£1.0 million) (2005: €0.8 million (£0.5 million)). Based on the unaudited accounts for the six months ended 30 June 2007 turnover was €3.4 million (£2.3 million) and net profit before tax was €1 million (£0.6 million). As at 31 December 2006 Altigefi has net assets of €1.8 million (£1.2 million) (2005:€1.2 million (£0.8 million)) and at 30 June 2007 €2.4 million (£1.6 million).

Altigefi manages 4 principal funds of hedge funds with a total of approximately US$1 billion under management at 5 October 2007. Altigefi’s flagship product is the Altipro family of funds, an extremely well performing low volatility product with a 9 year track record.

Following the acquisition, Integrated will have approximately $2.5 billion under management and advice.

Comments

Emanuel Arbib, Chief Executive Officer of Integrated, commented:

"We are delighted to announce this further important step in our growth plan and to deliver another of the objectives stated at the time of our fund raising earlier this year. This acquisition is a further example of our strategy to augment our organic growth with strategic acquisitions in the funds of hedge funds industry.

As a leading low volatility funds of hedge funds provider, Altigefi’s products will complement our existing offering, in particular with the addition of one of the best low volatility funds, in the European market. Altipro was one of the very few funds to have made money in the very volatile July-August period.

The acquisition provides us with a strong exposure to the attractive French market for alternative investments, which we did not previously have. The enlarged Integrated platform, with $2.5bln under management and advice, is now a truly pan European group, with a significant presence in the United Kingdom, Germany, Italy, Switzerland and France.

In addition, this transaction witnesses the strong and developing relationship we have with the Sal. Oppenheim group, including its French subsidiary Financière Atlas. Finally, we warmly welcome the entire Altigefi team, which brings formidable skills, experience and investment track record. to Integrated".

François de La Baume Chief Executive of Financière Atlas, added:

"We are very pleased to extend our exposure to alternative investments by partnering with Integrated Asset Management. We aim to leverage this key relationship to continue to provide the highest quality alternative investment products to our clients while at the same time assisting Integrated in developing its presence in the rapidly expanding French marketplace."

Since Sal. Oppenheim holds 28.3% of the issued share capital of the Company this transaction constitutes a related party transaction under the AIM Rules. Following consultation with Noble and Company, the Company’s Nominated Adviser, the Board of Directors of IAM considers that the terms of the transaction are fair and reasonable so far as the shareholders of the company are concerned. Mr Bierbaum and Baron von Oppenheim, Directors of IAM appointed to the Board as representatives of Sal Oppenheim, have not participated in the consideration or approval of the transaction.

Ends

For further details please contact:
Integrated Asset Management plc
Emanuel Arbib, Chief Executive Officer,
Tel: +44 (0)20 7514 9200
arbib@integratedam.com

Financière Atlas S.A.
François de La Baume, Chairman of the Management board
Tel: +33 (01)44 50 88 88
fdelabaume@finatlas.com

Noble & Company Limited
John Riddell, Director
Tel: +44 (0)20 7763 2200
john.riddell@noblegp.com

Weber Shandwick Financial
Jeff Watt / John Moriarty / Stewart Harris,
Tel: +44 (0)20 7067 0700
jwatt@webershandwick.com